Five Missed Opportunities to Support the Energy Transition in COVID-19 Recovery

Excerpt from sdg.iisd.org

For all the talk of “building back better,” governments around the world have been slow to support the clean energy transition in their recovery measures. But there are concrete policy solutions that, if implemented today, could turn things around.

As COP 26 approaches, ramping up climate ambition and finance is top of mind. Although there is a long way to go, we have seen progress this year—in July, G20 countries agreed to try to limit global warming to 1.5°C for the first time. Denmark and Costa Rica are leading efforts to create the Beyond Oil and Gas Alliance, gathering governments committed to delivering a managed and just transition away from oil and gas production. Just last week, the United Kingdom and the European Investment Bank called on governments and public finance institutions to endorse a joint statement on shifting public finance from fossil fuels to clean energy. Nations across the globe have been making increasingly bold climate commitments.

But, if we are to achieve global net-zero emissions by 2050 and limit global warming to 1.5°C, ambition must be paired with concrete action. This starts with a COVID-19 recovery that supports the transition to clean energy, not fossil fuels, and contributes to achieving SDG target 13.2, “integrating climate change measures into national policies, strategies and planning”.